Deutsche pushes back on rumors of Wall Street exit

|About: Deutsche Bank AG (DB)|By:, SA News Editor

"We're all in a long-term game," Alasdair Warren, Deutsche Bank's (NYSE:DB) head of corporate and investment banking for EMEA tells CNBC. "If you're going to be globally relevant you have to have a meaningful presence in the U.S."

Warren's statement follows reports from earlier this week suggesting Deutsche was considering cutting back its U.S. investment banking operation as it looks to conserve capital.

Speaking to the idea that capital concerns could cause a spiral in which talent and then clients abandon Deutsche, Warren says compensation is an industry issue, and banking employees everywhere are going to have to recalibrate their pay expectations.

As for clients, what Warren's hearing is that they want a "credible alternative" - particularly in Europe - to what's increasingly becoming a U.S.-dominated field.